RISE UP RETAIL INDUSTRY
FUNDAMENTALS RELIABILITY AND
VALIDITY IN RESEARCH INSTRUMENTS
100% CORRECT
products - Answer physical goods that you can buy and sell
services - Answer things that you pay for--someone's expertise--they are intangible
things
retail - Answer the process of selling products and services to customers in order to
earn a profit
customers - Answer people who purchase goods and services from a business
retail ecosystem - Answer an interconnected system of approaches designed to meet
the goal of retail
goal of retail - Answer provide customers with the goods and services they want--when,
where, and how they want them
multichannel retail - Answer customers have many channels, but the channels are not
connected to one another
omnichannel retail - Answer customers have many channels, and the channels are
connected using technology
manufacturer - Answer they produce or make finished products
wholesaler - Answer buys large quantities of products from the manufacturer and then
sells small quantities to retailers
what are the 3 distribution channels - Answer selling directly to customers, selling
through retailers, and selling through wholesalers
4 types of retail ownership - Answer independent, corporation, private company, and
franchise
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